...Introduction 4 2. Executive Summary 5 3. Financial Analysis 5 3.1. Profitability 5 3.2. Analysis of Investment Performance 13 3.3. Financial Condition 17 3.4. Dividend Policy 22 4. Conclusion 26 5. References 27 Introduction The analysis supplied within this report has been undertaken from the perspective of a current shareholder in Singapore Airlines (SIA). The report provides critical assessment of the company's overall performance, assessment that would be relevant and meaningful to shareholders. Two major airlines have been selected to provide competitor comparison throughout this report. The two competitor airlines - Japan Airlines Ltd and Qantas Airways - have been selected because they are representative of current commercial passenger aviation competition within SIA's predominant operating region (Asia Pacific region). It should be noted that the 2010 and 2011 reporting periods occurred during a time of major reorganisation for Japan Airlines. In February 2010 Japan Airlines Corporation was de-listed from the Tokyo stock exchange and, after corporate reorganisation proceedings, was re-listed in 2012 as Japan Airlines Co. Ltd. Thus, financial information during this period is unavailable. We have utilised a number of analysis tools to generate a transparent position of the financial position of SIA and measured this position against competitor airlines operating in the same region and flying similar routes. Executive Summary This report provides...
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...Financial Statement Analysis Individual and Group Project This is a two part assignment. The first part is a Financial Statement Analysis of the firm you have been covering for your group (to be completed individually by each student). Common-size and base-year your firm’s financial statements for the most recent 5 years. (If your firm doesn’t have this year or last year as its most recent available financial statement, do not use this firm. It may have gone out of business or been acquired.) Compute the common financial ratios shown in the PowerPoint slides posted for this project. Be sure to use DuPont Analysis to decompose ROA and ROE into profit margin, turnover, and leverage. Discuss your firm’s strengths and weaknesses relative to the other firms in your group with respect to leverage and coverage, profitability, liquidity and turnover, and market values. In particular, you should be trying to explain your firm’s relative market value ranking using the other ratios. For example, if your firm’s market value ratios tend to be higher than those of the other firms in your group, your firm might do a better job of using debt (some to boost ROE but still having good coverage), might be more profitable or have faster turnover, and might have reasonable but not excessively high liquidity. Note here that because leverage and liquidity have costs and benefits and because high profit margins tend to lead to low turnover and vice versa, having intermediate levels of these...
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...Appendices 8 Appendix A: Data of LMVTX, S&P 500, and 30 years bond 8 Appendix B: Alpha and Beta between 1991 and 2013 9 Appendix C: Alpha and Beta between 1991 and 2005 9 Appendix D: Alpha and Beta between 2006 and 2013 9 Introduction Bill Miller is known as famous fund manager that hold the record of beating benchmark index for 15 years in a row. However, his poor performance after 2005 was the reason that the investors run away from his fund. Hence, arguments of whether Bill Miller’s previous performances involve luck or skills appear. Furthermore, this report will also discuss whether investors should invest in Bill Miller’s Value Trust. Past and current performance of Value Trust Figure [ 1 ]: LMVTX VS S&P500 (Morningstar Principia , 2013) Bill Miller had made an achievement of longest streak performance of beating the market. Refer to figure 1, it had showed that Bill Miller’s Value Trust had consistently beat the benchmark index of Standard & Poor’s 500 (S&P 500) between 1991 and 2005, 15 years in a row. In 1998, Value Trust had the best performance, which had total return of 48.04% and outperformed S&P 500 around 20%. Moreover, between the periods, the average total return of Value Trust was 18% while S&P 500 was 13%. Betas of 1.16 indicate that Value Trust is 16% more volatile than the market (Appendix C). However, everything was changed after 2006. Bill...
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...Morningstar Document Research FORM 10-K ORACLE CORP - ORCL Filed: June 28, 2011 (period: May 31, 2011) Annual report with a comprehensive overview of the company ® ℠ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2011 OR � TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-51788 Oracle Corporation (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 54-2185193 (I.R.S. Employer Identification No.) 500 Oracle Parkway Redwood City, California (Address of principal executive offices) 94065 (Zip Code) (650) 506-7000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $0.01 per share The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES � NO...
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...TXN Northeastern State University Table of Contents: Section I: Company History and Environment A.) Company Profile 3 References 8 Section II: Income Statement and Balance Sheet Analysis A.) Common Size Analysis (B.S. and I.S.) 10 B.) Identification & Explanation of Trends 11 References 12 Section III: Ratio Analysis A.) Ratio Profile 13 References 14 B.) Ratio Table for TXN and Peers 15 C.) Ratio Trends and Comparisons 16 Section IV: Valuation A.) Reformulated Balance Sheet 18 B.) Market Value of TXN Stock (ROPI) 19 C.) Spreadsheet Calculations 20 D.) Assumptions 21 E.) Estimate Price to Forecast Price 22 Section V: Summary and Conclusion A.) Summary 23 B.) Company Financial Appearance 24 References 25 Texas Instruments: TXN ) Company History and Environment Company History: Texas Instruments (TI) is a designer and manufacturer of microcontroller semiconductors and two forms of signal processing, analog and digital. It all began when Eugene McDermott, John Erik Jonsson, Patrick Eugene Haggerty, and Cecil H Green founded Texas Instruments in 1930. The company was originally named Geophysical Science, GSI, later it was changed to Coronado Corporation in 1939 before it was finally named Texas Instruments Incorporated in 1951 (History of Innovation). The founders of Texas Instruments originally created their brand of semiconductors...
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...Delta Air Lines INC is a major United States airline that services both domestic and international travel. Delta is part of the “big four” legacy airline carriers, contributing to approximately 15.1% of the US domestic airline market share. Delta and its subsidiaries offer flights to 341 destinations with over 13,000 flights daily. Established in 1924, agricultural scientist Collet Woolman founded Delta as a crop dusting service. A few years later, the crop dusting service broke away and formed Delta Air Service. As time passed, Delta successfully expanded through technological innovations, research and development, and acquisitions with alliances. Product quality, consumer relations, and product safety are all key components to a successful airline carrier. In the past, Delta has demonstrated strong customer safety initiatives, thus contributing to their success. In contrary, Delta has been faced complainants from customers related to lost luggage, poor performance, and poor operations. Merging airlines is often complex can sometimes backfire. Much of Deltas growth in the last 10 years is attributed to the Northwest Airlines acquisition in 2008. When the two airlines merged, revenue increased and net income grew substantially, despite other costly economic factors. In order to successfully execute this merge, the management executives at Delta carefully planned the various stages of this risky move. Before merging, Delta faced issues with customer service, labor...
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...Table of Contents Topic Page 1. Introduction……………………………………………………………………………………………………... 3 a) Company Description……………………………………………………………………………………… 3 b) Summary of Company Approach to Financial Reporting……………………………………………… 3 2. Body………………………………………………………………………………………………………….. 3, 4 a) Auditing and Legal Practices…………………………………………………………………………... 3, 4 b) Balance Sheet Analysis……………………………………………………………………………..…. 4, 5 c) Stock Analysis……………………………………………………………………………………………… 5 d) Income Statement Analysis…………………………………………………….................................. 5, 6 1. Income Reporting Methods…………………………………………………………………………… 5 2. Income Reporting Trends…………………………………………………………………………...… 6 b) Cash Flow Statement Analysis…………………………………………………................................ 8, 9 1. Cash Reporting Methods……………………………………………………………………………… 8 2. Cash Reporting Trends………………………………………………………………………..…. 9, 10 3. Conclusion…………………………………………………………………………………………………..... 10 4. Bibliography…………………………………………………………….…………………………………….. 11 Introduction Coca-Cola Company was established in 1892 in North America, and has since expanded successfully into the international market, now doing business in over 200 countries around the world (Coca-cola.co.uk. 2013). Coca-Cola sells a wide variety of beverages from water to soft drinks, sports drinks, and teas...
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...Morningstar Document Research FORM 10-K ORACLE CORP - ORCL Filed: June 29, 2007 (period: May 31, 2007) ® ℠ Annual report which provides a comprehensive overview of the company for the past year Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2007 OR � TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-51788 Oracle Corporation (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 54-2185193 (I.R.S. employer identification no.) 500 Oracle Parkway Redwood City, California 94065 (Address of principal executive offices, including zip code) (650) 506-7000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common Stock, par value $0.01 per share Preferred Stock Purchase Rights The NASDAQ Stock Market LLC The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO � Indicate by check mark if the registrant is not required to file reports pursuant...
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...that the capitalization of the enterprise is well-structured in order for the company to meet both short and long-term objectives. Innovation is critical in any industry that relies on technological progress to gain a competitive advantage. To that end, Rockwell Collins continues to invest heavily in research and development. The corporate strategy has successfully weathered a severe downturn, and has poised the company for growth internationally over the long-term. Table of Contents Research Design Overview 4 The Firm 4 Financial Condition and Strategy 6 Financial Ratio Comparison to Industry Averages 7 Three Year Stock Price Analysis 8 Currency Exchange Risk 9 Capital Market Considerations 10 The Market’s View 11 Summary of Analysis 12 Future Growth Strategy 14 Global Growth 14 The Drive For Information 15 The Demand for Efficiency and Cost Effectiveness 15 Recommendations 16 Bibliography 17 Research Design Overview This research paper will discuss the financial strategies and tools employed by the management team of Rockwell Collins in order to not only meet or exceed the financial return expectations of shareholders, but to concurrently maintain a competitive position of strength despite economic headwinds. The...
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...arrangement with NYU that prevents my sharing any statistics that I get by processing the data (such as the industry averages) with anyone and they have told me that they plan to enforce it. While I understand their desire to protect their data, that makes the data useless to me. I am regretful since I am familiar with every nook and cranny of the Value Line data base. (Since Value Line's demand came after I had actually updated the data for 2014, you will notice a change in my US industry average numbers for 2014, if you had downloaded them in the last two weeks.) It will also mean that much of my archived data, other than the country risk premiums and betas, will be removed from my site. I am sorry! I have switched to a combination of Morningstar, Bloomberg and Capital IQ data for all firms, with an overlay of my own modified industry categories. (Don't ask why... You don't want to know...) For all of the companies, I have also added my estimates of firm-specific costs of capital which you can find in the...
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...REGINALD ST GERMAIN 37576 College Dr, Unit 101, Palm Desert, CA 92211 | 860-794-5677 | rjstgermain@mix.wvu.edu OBJECTIVE Dynamic, accomplished and results driven professional with expertise in business administration seeking a challenging and rewarding administrative position to contribute to the employer’s further success AREAS OF EXPERTISE Organizational Leadership Business Administration Analysis & Forecasting Program & Project Management Policy Development Personnel Development QUALIFICATION SUMMARY • Excellent track record of organizational leadership in business administration, consistently ensuring accurate analysis and forecasting and comprehensive program and project management • Regularly develop and implement key performance...
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...consistently better results during both the bull markets of the late 1990s and the bear markets of the early 2000s. Over the previous 15 years, investors in Value Trust, one of a family of funds managed by the Baltimore, Maryland–based Legg Mason, Inc., could look back on the fund’s remarkable returns: an average annual total return of 14.6%, which surpassed the S&P 500 by 3.67% per year. An investment of $10,000 in Value Trust at its inception, in April 1982, would have grown to more than $330,000 by March 2005. Unlike the fund’s benchmark, which was a capitalization-weighted index composed of 500 widely held common stocks, Value Trust only had 36 holdings, 10 of which accounted for nearly 50% of the fund’s assets. Exhibit 1 presents a summary of Legg Mason Value Trust, Inc., as it stood in August 2005. While Miller rarely had the best overall performance among fund managers in any given year, and while some managers had beaten his results over short-term periods, no one had ever matched his consistent index-beating record....
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...Table of Contents 1 Executive Summary 2 CSR Background 2.1 Definition of CSR 2.2 Evolution of CSR 2.3 Emergence of CSR 3 Literature Review 3.1 Carroll's CSR Pyramid 3.2 Purpose of the firm and how that shapes views on CSR 3.3 Arguments for and against CSR 3.3.1 Arguments Against 3.3.2 Arguments For 3.3.3 Summary of the key debates 4 Methodology 5 CSR at Apple Inc. 5.1 Apple's profile 5.2 Reasons to engage in CSR 5.3 CSR policies at Apple Inc. 5.4 Type of CSR approach taken by Apple Inc. 5.5 Key dilemmas within CSR challenges 5.5.1. Labour and human rights 5.5.2. Workers’ health and safety 5.6 CSR tactics at Apple Inc. 6 Conclusion 7 References Word Count: 2837 1 Executive Summary Corporate social responsibility (CSR) has been highly regarded by most corporations. However, the exact reason why corporations implement CSR initiatives is often very vague and confusing to others. This paper will explore in depth how international corporations are motivated to incorporate CSR into the business strategies and how they deal with it. Based on academic references, the report firstly outlined the CSR background as well as some theory and key debates about CSR. Then, the methodology was summarized. After that, the case study of Apple Inc. was used to demonstrate the reasons for implementing CSR initiatives in depth. Following that, the types of dilemmas the company faced, the CSR approach and tactics it used were analyzed. Finally, a conclusion was drawn...
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...of Contents ............................................................................................ 1 Introduction...................................................................................................... 2 The Real Cost of Printing ................................................................................ 3 The Myth of the Paperless Office.................................................................... 5 Stacks of Wasted Pages at the Printer ........................................................... 7 The GreenPrint Solution.................................................................................. 9 GreenPrint Case Study: Savills ..................................................................... 13 Summary ....................................................................................................... 15 Contact Information ....................................................................................... 16 © September 2008 Version 1.1 -1- GreenPrint Technologies www.printgreener.com Introduction In the past few years there has been a significant shift in corporate America and beyond toward a dual awareness of internal efficiency and environmental impact. “Carbon Neutral” was named word of the year in 2006 by The New Oxford American Dictionary, which seems to be an accurate reflection of the shift that’s taking place in America. At the same time, the increased price of energy and nearly all other basic commodities...
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...Running Head: [ Morgan - Capitalizing on Healthier Breakfasts ] Capitalizing on Kellogg’s Effort to Make Breakfast Healthier Andréica L. Morgan Post University BUS520.90: Competitive Intelligence William Robinson March 4, 2011 Summary of Analysis Kellogg Company, the leading producer of breakfast cereals, is focusing its sights on creating healthier versions of the products that have found their homes in the hearts of the American consumer. By using current interactive marketing technology, focusing on how to integrate more fruits and grains into their products, and expanding into new markets, they provide a high bar for our little company to shoot for. Our way to compete against their extensive advertising budget, well-known products, and extensive distribution channels will lie in focusing regionally in supplies, production, and marketplace. This will allow us to capitalize on missed opportunities for using byproducts of current manufacturing processes as part of a two-fold aim – first to get the most out of our resources and second to be greener. COMPETITOR ANALYSIS COMPONENTS COMPETITOR ANALYSIS COMPONENTS Current Capabilities Strengths (Kellogg Company, 2010) Our people Committed to excellence, passionate about achieving our goals, eagerly embracing new challenges Our strategy Focused and consistent, delivers sustainable and dependable performance Our business model Resilient and proven, relevant in all economies, drives long-term health of the...
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